With the ever increasing number of online services and electronic transactions, business owners are becoming ever more dependent on the use cryptography to prevent sensitive information from cyber attackers.

A Key Management System (KMS) must be designed in a manner that supports the goals of each organization using the KMS. The aim of a security policy is to provide a secure working environment for the organization by establishing required security measures, protocols and controls.

A cryptographic zone exists between two points, where a symmetric key or asymmetric public keys are shared in order to encrypt sensitive information. Once the key, or keys have been exchanged, data, and in some cases other keys, are encrypted within this zone.

This article gives an insight into the EMV chip technology, which is being rolled out on a world-wide scale to increase the level of fraud protection in credit card transactions. It presents and discusses legal incentives for migration, security benefits, a detailed view of the sequence of steps in a transaction and a concluding discussion.